The European Parliament would maximize the upper VAT rate at 25 percent

The European Parliament (EP) would maximize the upper VAT rate of the Member States at 25 percent – the EU Parliament’s press service said.

The purpose of the overall Value Added Tax (VAT) reform is to clarify the rules on cross-border trade.

This is part of the two draft legislation voted by the EP. One of the measures is to simplify trade in the single market primarily for small and medium-sized enterprises. Another would create a clearer VAT system. (MTI)